STRELNA, July 16 (RIA Novosti) - There is no global crisis in fossil fuels, and their rising cost is due to the absence of infrastructure at deposits, President Putin said Sunday.
"There are sufficient hydrocarbon reserves in the world, and the only issue is that their cost is rising," Putin told the Junior 8 Youth Forum, comprising students from G8 member countries, on the sidelines of the G8 summit near St. Petersburg.
Putin also said modern methods of extracting hydrocarbons needed to be improved.
In response to the J8's UK representative, who said the group had come to the conclusion that nuclear energy was an environmentally friendly and reliable source of energy, Putin said: "It is pleasant to hear that your discussion has come to this conclusion."
Putin said modern technologies had allowed this energy source to be safe.
